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By Malvika Gurung
Investing.com — The civil aviation ministry announced on Tuesday that all the flights suspended for international travel since March 23, 2020, will be resumed starting March 27, 2022.
In response to the announcement, shares of aviation stocks have surged up to over 8% on Tuesday.
Shares of IndiGo (NS:) surged 7.7% to Rs 1,721.9 apiece, Spicejet (BO:) climbed 5.1% to Rs 59.9 apiece and Jet Airways (NS:) gained 5% to Rs 94.7 apiece at the time of writing.
While international travel through air bubble arrangements was under operation during the two years, connecting 37 key destination countries over the past two years of the Covid-19 pandemic, the flights were more on the expensive side.
However, starting March 27, scheduled international flights will resume at a comparatively lower price range than the air bubble ones but it is unlikely for it to match the pre-pandemic regular flight fares.
This is because prices have shot up to the $140/barrel mark, given the aggravated Russia-Ukraine crisis and jet fuel globally have surged to near 14-year highs.
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